Manufacturing PMI registers fastest growth since Oct 2016

Posted - December 03 201700:47

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Manufacturing PMI registers fastest growth since Oct 2016

China's official manufacturing purchasing managers index (PMI) came in at 51.8 in November, accelerating from 51.6 in the previous month, according to the National Bureau of Statistics (NBS), which released the data jointly with government-linked industry group the China Federation of Logistics and Purchasing.

"Growth in output and new orders picked up to the fastest since October 2016, reportedly supported by reductions in GST rates and stronger underlying demand conditions", Dodhia said.

Companies that registered higher new work commented on greater client bases and the launch of new products.

The expansion remained broad-based by subsector too.

Manufacturing PMI registers fastest growth since Oct 2016

The U.K. economy has slowed markedly this year as inflation, which accelerated sharply after the pound's steep post-Brexit depreciation, began to outpace wages and squeeze consumers-a key engine of growth.

Companies were more willing to buy, as the sub-index for purchase volume surged to 53.5, the second highest reading this year.

Rob Dobson, senior economist at survey compilers Markit, said: "UK manufacturing shifted up a gear in November, with growth of output, new orders and employment all gathering pace". External markets added to the rise in total new orders; however, new export sales rose moderately. Meanwhile, output prices rose at the slowest rate on three months. This suggests that capital spending, especially in the domestic market, is showing signs of renewed vigour. Manufacturers have seen supply-chain constraints and rising demand for raw materials overtake exchange rate effects as the primary motivator of price increases.

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